June: Santa Paula sees largest fall in median price of single-family homes
By Peggy Kelly
Santa Paula News
Published: August 20, 2008
June real estate prices continued to slide, as single-family and condominium housing throughout Ventura County decreased in median value when compared year-over-year.
By Peggy Kelly
Santa Paula Times
June real estate prices continued to slide, as single-family and condominium housing throughout Ventura County decreased in median value when compared year-over-year. In Ventura County, Santa Paula saw the largest fall in single-family home median price for the month, 59.2 percent when compared to June 2007.
The report by DataQuick Systems of La Jolla, revealed that 11 single-family Santa Paula homes closed escrow in June at a median price of $235,000, an almost 60 percent decrease. No condominium sales were reported in Santa Paula in June.
Countywide the news wasn’t much better, with a year-over-year drop in single-family home prices and the number of dwellings sold. Only 530 single-family homes sold in June at a median of $455,000, a 26.6 percent drop when compared to June 2007. The condominium market was also sluggish, with 170 units sold at a median price of $313,000, a 26.5 percent decrease from June 2007.
The average square price per foot paid for a Ventura County single-family home - not including detached garages - was $279. In Santa Paula the June 2008 average square price per foot was $188.
Only one Ventura County ZIP Code, Oxnard 93035, saw an increase in single-family home median prices, 6 percent to $665,000.
Feeling the strong pinch of June housing market woes were Oak View (a 56.3 percent year-over-year decrease), Oxnard ZIP Code 93033 (down 43.5 percent), Westlake Village and Ventura ZIP Code 93001 (each down 42.8 percent) and Fillmore (six single-family homes sold at a median of $364,000, a 35.4 percent decrease from June 2007). All other ZIP Codes showed double-digit losses when sales were compared year-over-year.
Also bad for June were condominium prices: Ventura ZIP Code 93001 saw a single sale at $249,000, a 67.5 percent year-over-year drop and Oxnard ZIP Code 93033 had 8 units sold at $171,000, a 69.9 percent decrease. In Westlake Village seven condominiums sold in June at a median price of $310,000, a 42.5 percent decrease year-over-year.
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